Singapore named one of top countries with most fintech unicorns

The Lion City ranked ninth and named amongst the world’s fintech capitals.

Singapore has ranked amongst the top countries globally with the highest number of financial technology (fintech) companies valued at US$1b, with four fintech unicorns.

With four fintechs valued at least a billion dollars, Singapore tied with the Netherlands to rank ninth in the list, UK-based contractor Utility Bidder said in a report based on data collated from Crunchbase and CB Insights.

Singapore accounted for 1.61% of all fintech unicorns in the world.

The United States claimed the title of fintech capital of the world, with 132 fintechs worth a billion dollars or higher. More than half or 53.23% of the world’s fintech unicorns are based in the US, according to Utility Bidder. 

UK trailed at second place with 26 fintech unicorns, whilst India closed the top three with 14 fintechs valued at a billion dollars.

China ranked the highest in Asia, with 8 fintech unicorns.

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Hong Kong and Japan did not rank in the top ten, but were noted for having three (3) and two (2) fintech unicorns, respectively based within their jurisdictions.

By company, Stripe has been named as the most valuable fintech company in the world, with a total valuation of US$95b. Established in 2010, it took Stripe 4 years to achieve unicorn status in early 2014.

Checkout.com is second, valued at US$40b; and then Revolut, valued at US$33b. Revolut launched in July 2015, and reached unicorn status in April 2018.

Pacaso has been named the quickest company to gain unicorn status, taking less than 6 months to achieve this. The platform helps homeowners buy their second property, and is active in the US and Spain.

Picasso was followed closely by NFT marketplace Maic Eden, who took only 277 days.